Why Chainlink

Honestly I tried so hard and the only think I see is with swift, basically make or break if swift actually use it or not. i really dont understand the whole oracles thing, why do you need it and dont alot of cryptos already have this built in? and lets say it is an important peice of tech, how does that increase the value of link as a currency?

Just buy it and let the smart people worry about the details, sweetie.

Sounds like you know what you’re doing. Don’t buy

Holy shit how uninformed can one person be?

They are talking about LINK coindesk.com/swift-announces-successful-proof-of-concept-trial-for-dlt-platform/

The greatest trick biz ever pulled was convincing the world that link was a meme.

I’ve been fudding since day one and hold 50k since ICO and right after. That said i should’ve swing traded jan better but such is life

>this is the only place where link is talked about. No other place on the internet or planet earth even talks about this
dumbest fud ive ever heard

Option 2 doesn't even make sense. They don't give shits about normal buyers. And crypto is the easiest thing to market all you need to do is drop vague hints that something might happen soon and your token pumps. Veeky Forums is also way to fringe to market to, better off making twitter posts.

Link marine here. I actively FUD and downvote link threads on Reddit and anywhere else I see Chainlink, so if marketing via biz was the tactic, real bad move there. Biz gets to have this one, and I for one am not letting anyone else in on it until it's too late for them to make it

because there are a lot of bagholders here, look at the long time price charts

kek am i wrong for waiting for the floor before buying in?

all the fud against chainlink convinced me to take a look at it. now im all in, atleast if my brainlet understood what its purpose is

You're fucking retarded...the highest it has been was a little over 1.30....it's sitting at 50 cents...

You know how many shitcoins out there are 90% down from their all time high?

FUD more dumb ass brainlet

3. old biz was sickened by the onslaught of newfags with the BTC pump in november and devised a plan to fuck them all while they cashed out millions from ETH and ANS

Ok Bizrealis, I'm starting to like it, basically takes loads of lawyers and middlemen out. and I get it, you talk about it here because you want to accumulate but not necessarily shill it.

Now the main thing stopping me from buying, is the token. Why does it need a token? who buys the token. Lets say I'm swift, why cant I just use the platform for it's use, do I have to pay in link to use it? Why would link go up? It sounds the same as ripple, the banks use the tech, use their own currency and then the currency is just a meme token used for funding

you sound emotionally attached, you ok?

anyways OP, it's because chainlink promised the world back in the day and Veeky Forums fell for it. then they didn't deliver anything and it turns out everyone other blockchain group is solving oracle problems better than that random russian guy so the price has gone to shit

By not mentioning it? How is that work?

Folks discuss link on link forums on reddit, telegram etc.

The problem is that most normies in crypto only discuss price and care only about news related to price. There are coins on reddit that are shilled that are literal scams. Walton chain is an obvious example. Sergey does not give two shits about the price of link. He cares about his product. He is not going to make money by selling his link. He will make money by people paying him to make smart contracts.

He's not even russian. You literally have no clue what you're talking about lmao.

Trustless access to off-chain data is the only thing holding back Blockchain & smart contracts from completely transforming the way business is conducted in the Information Age.

LINK is the solution to that problem, and it has few, if any legitimate competitors.

This....spot on man, i've seen it many times with other invesments. Penny stocks too. Companies that try and hype their product don't have shit really.

The ones that go silent in the night without anyone taking notice are the ones you need to look for. Those are the goldmines waiting to explode

chainlink's partnership with zeppelin_os is a bigger deal than their potential partnership with swift in many ways tbqf

Yes I see it has a great use case, but that is the tech, not the currency. If I was swift I would love them. But why would I ever buy link as a currency. It seems like it would be better structured as a business with paying customers and dividends. Who exactly buys link? Is there an access fee to the platform or something?

>Coin has not increased in price
> Thus the tech behind it must be useless, trash, vaporware.

Is that how your brain works?

ChainLink does no marketing.

Hopefully that narrows down the answer.

It's a pump and dump and the discord groups try their best to appeal the lowest common denominator. Retards who think meme magic is a thing and retards who fall for Hiveminds and think Hiveminds on Veeky Forums aren't retarded as fuck.

>buy duh json parser coin XDD
that's you

i think you are rewarded with link tokens, if you hold your part of the contract and vice versa when you dont, though i'll have to do more research on that.

> It sounds the same as ripple
> is just a meme token used for funding
> it solves the same problems Hyperledger and Corda solve just without the support of financial institutions

Since it’s a decentralized oracle network, you need a system in place to be able to incentivize node operators. If I have a dApp running on ethereum, I can either go with a centralized oracle system to retrieve off-chain data or I can go with something decentralized. At that point, why would I build a decentralized app only to introduce a centralized component into the mix? The token is what allows any decentralized project to stay decentralized end-to-end when gathering off-chain data.

Ok I trawled the whitepaper for it:

The ChainLink network utilizes the LINK token** to pay ChainLink Node operators
for the retrieval of data from off-chain data feeds, formatting of data into blockchain
readable formats, off-chain computation, and uptime guarantees they provide as operators.
In order for a smart contract on networks like Ethereum to use a ChainLink
node, they will need to pay their chosen ChainLink Node Operator using LINK tokens,
with prices being set by the node operator based on demand for the off-chain resource
their ChainLink provides, and the supply of other similar resources. The LINK token
is an ERC20 token, with the additional ERC223 “transfer and call” functionality
of transfer(address,uint256,bytes), allowing tokens to be received and processed by
contracts within a single transaction.

Makes sense, ok so when will it be used, Is there any timeframe? roadmap etc?

pretty funny how far one little meme will go

Option 3: people really want the next 1000x coin and latched on this one.

>i really dont understand the whole oracles thing
here is your problem

Its a meme OP. Notice how blockfolio threads never have anyone with more than 5k worth holding LINK. Its a meme that only poorfags from Veeky Forums fell for.

Literally every transaction involving data requests to the ChainLink network will require the LINK token. There is no using the ChainLink network without using the LINK token. This does not mean the terms of the smart contracts in question can't trigger a payment in any currency (fiat or crypto) they choose - the actual request for data to the CL network will be paid in LINK.

>So why did they make the token at all? >Cynical money grab?

Imagine if they didn't. For the decentralised oracle network to be a success, they need a lot of unique node operators. Without this it's just another centralised network, with the corresponding security/reliability weaknesses. I'm talking the kind of numbers they're actually working with, and then some (Sergey mentioned close to 20k individuals had expressed intent to run a node in his eoy blog post) .

How do you bring about that amount of engagement with your network? You can't hire or manage 19k nodes by yourself... you need to legitimately engage a massive community of people. You do that with a token sale, and by distributing those tokens far and wide. Then you have a bunch of LINK holders ready to run nodes, incentivised to do so by the promise of earning more LINK in return for their services. What's going to make ChainLink valuable is network effect. Nothing else matters. If this becomes the de facto network to connect smart contracts to the real world then its game over. The network will become entrenched in the sense that it just won't make sense to compete with it, only to join it. Like Amazon. What other online book shops are there? Most smaller online marketplaces have become assimilated by and now trade on Amazon, rather than compete with it. The LINK token is what ultimately provides access to this network. Do you see its value yet?

>coindesk.com/swift-announces-successful-proof-of-concept-trial-for-dlt-platform/
That has literally nothing to do with chainlink. If you don't see API there is no chainlink

Memes dominate reality in this timeline. So it doesn’t matter if it works or not , it will be memed into a working state

Unironically have thousands of Link, and money I couldn't care if is lost.

I'll hold my Linkies to $0, or see it go to $1000

read the whitepaper
listen to sergey at sibos
listen to sergey at the last conference.
if you don't understand why chainlink is revolutionary, i don't know what to tell you.

Same with FUN ICX and XRP which is why Im in em

LINK hype rides on a big assumption - that companies want to use smart contracts but also need data to come through a decentralized network instead of using an already working product that does the same, just isn't decentralized.

>i really dont understand the whole oracles thing, why do you need it and dont alot of cryptos already have this built in?
brainlet alert.

Why would banks trust a bunch of autists vs a centralized source like IBM? This seems like introducing decentralization just for the sake of decentralization.

You should check this out:
github.com/ethereum/EIPs/issues/677

Network is currently being tested in alpha with github regularly updated and community giving feedback. This should pave the way for mainnet later this year, although no promise of when to expect it. Once mainnet is live, people will be operating nodes and staking link

Yea, interesting point actually. I haven't noticed any real portfolios (Plus 50K) with noteworthy amounts of link. Seems to be an entirely poor mans game at this point.
Tell me biz, why are the rich ones not buying?

Any decent link marine is immunised against fud

Half of /biz blockfolio posts are LARPs anyway. Take a look at Link’s rich list on etherscan.

t. Over 100k link holder.

dude I hope you don't buy, because first of all I'd hate to see some clueless faggot accidentally rich and second you would sell at 2-3$ anyway

If LINK hits 1000, those guys holding over 100k LINK would be worth 9 figures...I highly doubt this will happen

That's the whole point of all of this. There is no trust.

And you literally can't sell that many link for that price.

More a case of the rich not being tacky enough to need to share their portfolios ;)

People will sell off at $10/20/30 etc
But yes 1k is quite the stretch
But i guess link has a good $50-100 per token in it
Thats more than enough for most ico holders

kek this

>literally

Yeah, so how does that technology translate into money for the holders of the coin?
Say company X says "we will use this technology, and we will pay Link Inc. 1 mill for it". Great. How do you guys get any of that?
Have any of you even considered that?

...

Here's the actual reason.

There used to be a legendary anime poster known as anime-chan, or "Dunois"

She shilled Veeky Forums a shit of shit coins such as odn, mbrs, dnt that all ended up being massive pump and dumps. She shilled chainlink and practically everyone on the board got a piece of it, either through ICO or during the first week on etherdelta. Then it got added to binance and it promptly went 5x.

Everyone on this board was together for a 5x moon mission. None of the shit about muh sibos or oracles has anything to do with it. Now a large portion of the early holders have stockholm syndrome and are just obsessed with this coin for some reason.

GTFO you fucking retard, you are such a fucking brainlet, your fucking pretentious entitiled attidtude gives me cancer, you don't know shit and want to be spoonfed,
GTFO of my board

Supply and demand. If non-link holders want to buy link to run a node but most link holders have their tokens locked up in running profitable nodes, what do you think will happen to the price of the coin?

penny stock pump and dump.

really? Are you a sub saharan nigger?

Obviously they can't just pay "link" 1 million USD. They would have to buy link tokens and pay them to the nodes the want to use.

Holy Shit kill yourself if you aren't baiting/fudding

Nah, that still misses the point of what you were asking - I thought.
What you point out is that node operators will get paid, etc. But how does that translate into profit for holders of existing tokens?

NOBODY FUCKING TELL HIM
THIS IS AN ORDER FROM THE GENERAL
fuck this brainlet
NO ONE SPOONFEED HIM

>If non-link holders want to buy link to run a node but most link holders have their tokens locked up in running profitable nodes
Then they don't buy it?

This.

Nice larp lol

Why can't people just pay fiat to access the network?

He's not wrong. All my shitcoins are down 90% from ATH.

I see. So you're saying any potential user of a node would need to buy Link tokens to pay the node owner.
Thank you.

Chainlink addresses a real problem but do they actually have a solution. How can you make oracles trust less. The answer is you cannot. Especially if the community is controlling the info that goes in to the Oracle you still need to trust the community and the community cannot be tested. Example pump and dump groups. People are able to get together in huge numbers to fuck shit up so how would these oracles be trustless?

You're missing Linda and Obsidian. Easy money!

"How much LINK is required to be a node operator?

No LINK is required in order to be a node operator. However, holding LINK on your node (commonly referred to as staking) helps with ranking your node against others. Your node will also need some LINK in order to bid on smart contracts with the penalty amount. If the node is not selected to perform the job, or the node successfully completes the job, then it can retrieve that paid penalty amount."

guides.oraclefinder.com/node-faq

>your fucking pretentious entitiled attidtude gives me cancer
How so, asshole? Asking a question is 'pretentious'? I guess it might piss you off if it exposed that you really didn't know the answer. Is that it?
No problem. Someone else answered me.

Láttam a Kaiser Sözét!
Favorite movie, man
You sir, just made my day

We'll tell you if you put a .357 round through that thick fucking skull of yours.

So the ones holding a small amount of LINK shouldn't bother operating a node?

>people just won’t buy it.

No, that’s not what happens when you reduce the circulating supply of something people want.

peace my children, for we are all in this together.

This

For real, do your own research.

yes you are a fucking entitiled pretentious fuck
>hurrr they won't need the token
>durrr they will just pay with fiat/sea shells/zimbabwe dollars
>hurrr they will buy out the company he he

JUST FUCK OFF

he actually didn't answer you shit but that's better than nothing. I know more about the project and its tokens economics than you ever will. The thing is I don't need pretentious fucks like you to hold this coin. If you had asked politely that would've been a different story. I would happily lay down the economics and price driving facotrs in details, but that's not the case.
DON'T BUY

What do you mean by 'tokens locked up in running profitable nodes' ?
I was starting think I saw the deal here, but now I'm not so sure. I was thinking the value lay in people needing to buy Link in order to pay for the execution of smart contracts on the nodes. Then the node owners would, I guess sell those for cash - or whatever they needed - and the cycle would begin again. No?

Thanks!

Fuck you, asshole.

You lock the prize of the token so you dont lose the money if the value goes to zero. This is the singularity

no, it's decentralization for a very specific reason. you're too stupid to understand though.

I didn't say any of your green text, and actually I did ask politely. Anyway, like i said, others have answered the questions that you couldn't

Thanks!

I believe the assumption is that ChainLink will provide this service at a fraction of the cost at which it is currently offered

option one you fucking norman sack of regular sweat.